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| FOR IMMEDIATE RELEASE
Lisa Beers WATERFORD HOTEL GROUP JOINS FORCES WITH THE PENNSYLVANIA STATE UNIVERSITY Forming the Waterford Institute for the Advanced Management of Hospitality Operations WATERFORD, CT (February 7, 2006) --- Furthering its commitment to career development for all associates, Waterford Hotel Group has partnered with Penn State University to form a Leadership Development Institute. The certificate series, known as The Waterford Institute for the Advanced Management of Hospitality Operations, is designed for managers desiring to improve their effectiveness as they move into the management of increasingly complex operations. The development series will be offered to managers employed at hotels professionally operated by Waterford Hotel Group. Waterford will also offer the training to managers at their corporate headquarters. “Our associates are our greatest asset and investing in their future through career development is one of our top priorities,” stated Len Wolman, chairman and CEO for Waterford Hotel Group. “Penn State’s hospitality management program is among the best in the country. We are honored to have the opportunity to form a corporate/university partnership that pulls on the vast resources and extensive experience of such a highly-acclaimed university,” added Wolman. The institute is delivered in three, 2-day modules during which participants develop practical skills in core competency areas they have identified as key to their development with respect to the successful leadership of others including communication, leadership and coaching, human performance management, customer focus, continuous improvement, and financial management. Penn State faculty members develop and deliver the learning modules while working closely with Waterford’s senior management to link the academic contact to Waterford’s mission and best practices. Waterford’s first class of 30 participants recently completed the first of three modules. Upon successful completion of each 2-day program, participants receive a Penn State Certificate of Completion and earn 1 CEU (Continuing Education Unit) for every 10 hours of instruction. Upon program completion by this class, Waterford plans to select a new class of participants. Bart Bartlett, of the Penn State faculty, says “For me, the opportunity to work with industry practitioners is a very positive two-way street; as I facilitate and help managers to think about ways they can manage their hotels more effectively, I am learning about current practice, and hearing anecdotes and examples that I can take back to my undergraduate classroom. We see the Waterford-Penn State relationship to be mutually beneficial, and are delighted to be involved in the Waterford Institute.” About Penn State University About Waterford Hotel Group For further information, contact Waterford Hotel Group, Inc., 914 Hartford Turnpike, P.O. Box 715, Waterford, CT 06385; telephone 860-442-4559, fax 860-437-7752, or visit the company's website at www.waterfordgroup.net.
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